Tea Life Co. Ltd. said its normalized net income for the fiscal first quarter ended Oct. 31 was a loss of 15 Japanese sen per share, compared with ¥6.33 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥625,000, compared with income of ¥26.9 million in the year-earlier period.
The normalized profit margin declined to negative 0.0% from 2.1% in the year-earlier period.
Total revenue increased 17.8% year over year to ¥1.54 billion from ¥1.31 billion, and total operating expenses rose 21.6% year over year to ¥1.54 billion from ¥1.27 billion.
Reported net income fell 85.0% year over year to ¥3.0 million, or 71 sen per share, from ¥20.0 million, or ¥4.71 per share.
As of Dec. 12, US$1 was equivalent to ¥118.57.
